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It is now a few years since the introduction of the common currency, and Europe is still experiencing high unemployment. The conventional logic attributes this problem to strong trade unions and other flaws in the labour market. This article takes a different approach. Using a game theoretic...
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In this paper we argue that authorities aid cooperation by means ofdirect coordination or the enforcement of re …
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macromodel of a monetary union, we prove that there is no Pareto-superior design when cooperation between policymakers is …
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